Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h +0.038%

Price spread now: Hibachi against Gate−0.050%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Gate Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.378%+$38 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.050%, 7d avg −0.069%

Together, before fees+0.328%+ Points / potential airdropHibachi: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.069%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.378%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EURUSD_USDT	1.1478	0	get 0.0000% / 8h	4h 07m	$144K	$5K	100x
Short	Hibachi EUR/USDT-P	1.1472	−0.0120	pay 0.0015% / 1h	7m 55s	$165K	$8.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee HibachibpOrdersPrice spread, now −0.050%Rate

Funding earned: −$25.2
Price spread: −0.050% → −0.069%: $1.88
Slippage, 4 orders: −$32.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$80.21
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Gate: live order book, 43 min ago; Hibachi: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 43 min ago	8.28 bp	26.1 bp −$26	185.8 bp −$1,858	doesn't fit	doesn't fit
Sell Hibachi live order book, 1 min ago	0.04 bp	4.5 bp −$5	21.4 bp −$214	doesn't fit	doesn't fit

EUR on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EUR_USDT	−0.0178%	4h	1.1477	−0.009%	$6.8M	$135K	100x	as long as short
Hibachi EUR/USDT-Pshort	−0.0120%	1h	1.1472	−0.050%	$165K	$8.2M	30x
Kraken Futures PF_EURUSD	−0.0062%	1h	1.1473	−0.045%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0007%	1h	1.1478	−0.002%	$467K	$153K	40x	as long as short
Lighter EURUSD	0.0000%	1h	1.1485	+0.058%	$2.1M	$435K	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1480	+0.020%	$585K	$223K	100x	as long as short
Gate EURUSD_USDTlong	0.0000%	8h	1.1478	long leg	$144K	$5K	100x
Bitget EURUSDUSDT	0.0000%	8h	1.1477	−0.009%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1475	−0.026%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1481	+0.026%	—	$2.4M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EURUSD-USDT	0.0000%	1h	1.1476	−0.017%	$12K	$263K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1475	−0.028%	$6.7M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0039%	1h	1.1466	−0.101%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1506	+0.246%	—	$264K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0056%	1h	1.1482	+0.035%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	0.000%	$190K	$61K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1481	+0.030%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0126%	1h	1.1482	+0.035%	$23.3M	$1.8M	50x	as long as short